Ex‑Goldman Sachs Exec Says Bitcoin Rally Could Be Delayed Until Mid‑2026 as Cycle Extends

• Next major Bitcoin peak likely in mid‑2026, not 2025

• Pal links Bitcoin’s cycle to the ISM business‑cycle index and U.S. debt policy shifts.

• ISM has remained below 50 for much of three years; Treasury maturity changes extended the cycle.

Bitcoin bull market 2026: Raoul Pal predicts a mid‑2026 peak; read analysis and adjust your investment timeline with expert macro insight today.

What is Raoul Pal’s Bitcoin forecast for the next bull market?

Bitcoin bull market 2026 is Pal’s projected window: he expects the next major Bitcoin peak in mid‑2026, not in 2025. Pal attributes the delay to a structural shift in the global business cycle and U.S. Treasury policy that pushed the familiar four‑year rhythm toward a five‑year pattern.

How does the ISM index influence Bitcoin’s cycle?

The ISM manufacturing and services index acts as a macro guide for risk assets. When the ISM stays below 50 it signals contraction; that prolonged sub‑50 period over the past three years has constrained risk appetite, weighing on Bitcoin’s momentum. Pal sees a return to expansionary ISM readings as a prerequisite for a sustained crypto rally.

Why does Pal reject halving‑only explanations?

Pal argues halvings remain relevant but are not sole drivers. He highlights the interaction between monetary policy, fiscal timing and investor risk sentiment. The extension of Treasury maturities from four to five years between 2021 and 2022 is cited as a structural shift that shifted the broader business‑cycle tempo, thereby delaying peak risk‑asset performance, including Bitcoin.

Frequently Asked Questions

When is the next Bitcoin bull market expected to peak?

Raoul Pal forecasts the next Bitcoin bull market will most likely peak in mid‑2026. He bases this on the prolonged ISM slump and a structural timing shift in U.S. Treasury maturities that altered the business‑cycle cadence.

How should I adjust my investment timeline based on Pal’s view?

Adjust by extending your time horizon into 2026, scaling positions gradually, and tying buys to macro improvements such as a sustained ISM recovery and tightening credit conditions that favor risk assets.

Key Takeaways

• Timing reset: The anticipated Bitcoin bull peak is now more likely in mid‑2026.
• Macro over halving: Pal emphasizes global business cycles and ISM data over halving schedules.
• Actionable steps: Monitor ISM, Treasury maturities, and use phased entries to manage risk.

Conclusion

Raoul Pal’s analysis suggests the Bitcoin cycle has been stretched by macro structural changes, pushing the next major bull market toward mid‑2026. Investors should prioritize macro indicators, revise 2025 rally expectations, and adopt disciplined position sizing. Follow COINOTAG coverage for updates and data‑driven context.